Alphabet earlier announced its financial report for the first quarter of fiscal year 2024, with revenue reaching US$80.539 billion, an increase of 15% compared with the same period last year, and net profit reaching US$23.662 billion, an increase of 57% compared with the same period last year. At the same time, it will pay dividends to shareholders for the first time. And it plans to carry out a US$70 billion value stock buyback, which further illustrates that it will continue to catch up with competitors in the development of automatically generated artificial intelligence.
Revenue from services reached US$70.398 billion, and net profit was US$27.897 billion, of which YouTube advertising revenue reached US$8.09 billion. Google Cloud service revenue also reached US$9.574 billion, with a net profit of US$900 million. Revenue from other investment projects was US$495 million, with a loss of US$1.02 billion. As for projects operated by Alphabet, revenue was US$900 million, with a loss of US$1.02 billion. to US$2.305 billion.
In addition, Alphabet also stated that the costs behind revenue were US$33.712 billion, and R&D expenditures were US$11.003 billion, both higher than the same period last year, while sales and marketing costs decreased to US$6.426 billion, and other general and administrative expenses were US$3.026 billion. US dollars, also decreased compared with the same period last year, while traffic acquisition costs were US$12.95 billion.
If divided by region, revenue in the United States reached US$38.737 billion, an increase of 18%, while revenue in other regions of the Americas was US$4.653 billion, also an increase of 14%. As for the Asia-Pacific region, revenue was US$13.289 billion, an increase of 14% compared with the same period last year, and revenue including the Middle East, Africa and Europe was US$23.788 billion, an increase of 13% compared with the same period last year.
Alphabet currently has US$28.848 billion in free cash, and plans to pay a dividend of US$0.2 per share to shareholders on June 17 this year. It also plans to repurchase up to US$70 billion of Class A and Class C shares, which will be purchased through the open market. Or repurchase at an appropriate time through private negotiation.
Prior to this, Google has announced its automatically generated artificial intelligence model Gemini, and has responded to various computing execution needs through different scales to compete with Microsoft, OpenAI, Meta, and AWS, and hopes to compete in the field of artificial intelligence technology. Maintain a competitive advantage.
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Tags: Googles parent companys profit increased pay dividends shareholders time conduct stock buybacks worth US70 billion
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